cold hard facts, page-2

Again some passion in the old ICN forum.

Keep in mind that we won't be getting any certified resources until drilling is well under way on 626. LUCKILY, we don't have any rigs floating away in the floods that are happening and costing us nothing. Floods should also delay any drilling. So, it's all about faith and patience for ICN'ers for a few more months.

Rather to have a buyer at this stage than unsold, so called "proven reserves." All of our "peers" are spending squillions and getting "proven up reserves" but haven't even got an MOU. How, they would all love to be in ICN's position.

We now have three new Chinese investors.
We have another $5.9 mill in the bank.
We are still negotiating the MOU.
We might still get that SPA.
Beach is coming out with great stuff with 288.
855 looking better by the day.
We still are waiting for the $3.5 mill from Beach for j/v in 855.
$30 mill of drilling to commence "soon" in Lydia (paid by Stanwell.)

Not bad for a piddling little Gold Coast mob that the market treats as a joke.

2011 should be a very exciting for ICN and all that stay on Board and it is still only .20 cents!!!!

DYOR and you should come up with the same conclusions.